Egyptian mogul Mohamed El Kashashy has pulled out of a potential deal to buy Premier League side Burnley, according to latest reports in England.
Following their promotion back to the English top flight League back in 2016, the Claret have become one of the most consistent sides in the league under the guidance of Head Coach Sean Mark Dyche
The Lancashire based team have, however, been struggling financially, prompting the club’s chairman, Mike Garlick, to begin talks of selling the club.
Egyptian mogul Mohamed El Kashashy and Solicitor Chris Farnell were close to taking over the Premier League club in a £200 million deal.
Their bid were rivaled by ALK Capital, owned by former president of MLS club Real Salt Lake Alan Pace.
But according to latest reports in England, there has been no contact between El Kashashy, Farnell, and Burnley chairman Mike Garlick for six weeks, and now the only bid on the table is by ALK.
The Clarets sit 16th on the league table 13 points from 13 games and will hoping to get new owners before January in order to be active in the transfer window.